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The '''American System''' was a system of economic policies that [[Henry Clay]] invented. It was based off of [[Alexander Hamilton]]'s American School and was largely promoted by the [[Whig Party]]. It also became the basis of the [[Republican Party]]'s economic policies in its early days. The American System was finally implemented during the [[Lincoln Administration|Abraham Lincoln]] and set the stage for the [[Gilded Age]] and the second wave of the [[Industrial Revolution]]. The American System mainly consisted of three components:

The '''American System''' was a system of economic policies that [[Henry Clay]] invented. It was based off of [[Alexander Hamilton]]'s American School and was largely promoted by the [[Whig Party]]. It also became the basis of the [[Republican Party]]'s economic policies in its early days. The American System was finally implemented during the [[Abraham Lincoln|Lincoln Administration]] and set the stage for the [[Gilded Age]] and the second wave of the [[Industrial Revolution]]. The American System mainly consisted of three components:

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1. Pass high tariffs (taxes) on imports to protect American businesses and to increase revenues.  

1. Pass high tariffs (taxes) on imports to protect American businesses and to increase revenues.  

3. Develop and support internal capital improvements, primarily consisting of designing and constructing roads and canals.<ref>https://apprend.io/apush/period-4/the-american-system/</ref>}}

3. Develop and support internal capital improvements, primarily consisting of designing and constructing roads and canals.<ref>https://apprend.io/apush/period-4/the-american-system/</ref>}}

==References==

==References==

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